With the deadline for Cable & Wireless Worldwide (CWW) bidding this week, marketmen are anxious about Tata Communications plans. According to Sunday Times, Tata Communications has raised the stakes in the £1-billion battle. UK giant Vodafone Plc and Tata Communications have time till March 29 to decide on whether to make an offer for CWW Plc, a telecom entity set up more than 150 years ago to cater to the needs of the erstwhile British Empire. Tata Communications last week informed the exchanges that it was considering an acquisition bid for London-listed CWW. “TCL is evaluating a possible cash offer for CWW,” it informed the BSE. According to Sunday Times, Tata Communications has amassed a $2-billion (£1.26-billion) reserve for the deal. Meanwhile, according to some media reports, Vodafone's board is said to be divided over participating in the race due to tax concerns.
Tata Comm gears up for Cable & Wireless takeover
Published on
March 25, 2012 16:49